The Winklevoss twins filed an S1 for a spot Zcash ETF on Nasdaq. Ticker: WINK. Gemini handles custody. Winklevoss Capital has signaled interest in putting up to $100M of their own money in.
Here's the part that matters: the proposed fee is 0.25%. Grayscale's existing Zcash ETF ZCSH charges 2.5% ten times more. If WINK launches at that rate, it's a direct shot at Grayscale's first-mover advantage.
ZEC is up roughly 735% over the past year, with a market cap around $23B, making it the 10th-largest crypto asset. That kind of run on a privacy coin an asset class that was practically radioactive in the US just a couple years ago tells you how much the regulatory temperature has shifted.
The filing doesn't hide the risks. It explicitly flags the security bug found in Zcash's Orchard shielded pool earlier this year, which briefly knocked ZEC down 50% before the Ironwood upgrade patched it.
This is still just an S1. No approval no launch date. But the Winklevoss name carries weight, and the fee undercut is a clear signal they're playing to win, not just to show up.
What do you think does a 0.25% fee make WINK a serious threat to Grayscale's head start? Or does first-mover advantage still win here? $ORCA $ZEC #FedMinutesFocusOnOctoberPause #SP500AndNasdaqHitRecordHighs #DubaiVARAIssuesReserveAssetAuditCircular #SECApproves3XBitcoinETF
Here's the part that matters: the proposed fee is 0.25%. Grayscale's existing Zcash ETF ZCSH charges 2.5% ten times more. If WINK launches at that rate, it's a direct shot at Grayscale's first-mover advantage.
ZEC is up roughly 735% over the past year, with a market cap around $23B, making it the 10th-largest crypto asset. That kind of run on a privacy coin an asset class that was practically radioactive in the US just a couple years ago tells you how much the regulatory temperature has shifted.
The filing doesn't hide the risks. It explicitly flags the security bug found in Zcash's Orchard shielded pool earlier this year, which briefly knocked ZEC down 50% before the Ironwood upgrade patched it.
This is still just an S1. No approval no launch date. But the Winklevoss name carries weight, and the fee undercut is a clear signal they're playing to win, not just to show up.
What do you think does a 0.25% fee make WINK a serious threat to Grayscale's head start? Or does first-mover advantage still win here? $ORCA $ZEC #FedMinutesFocusOnOctoberPause #SP500AndNasdaqHitRecordHighs #DubaiVARAIssuesReserveAssetAuditCircular #SECApproves3XBitcoinETF
